What is CIBIL Score? Know About CIBIL Credit Score

CIBIL Score

The Credit Information Bureau India Limited (CIBIL) is India’s first Credit Information Company or Credit Bureau. This bureau maintains records of all credit-related activity of individuals and companies including loans and credit. Reserve Bank of India, authorized company has registered three bureaus i.e. CIBIL, Experian and Equifax to provide the actual position and credit worthiness of the borrower to lender in form of CIBIL Score. For that, you need to acknowledge what is CIBIL Score? So, let’s check!! CIBIL Score can have significant impact on your ability to access loans and credit cards. Apart from it, this is a good way to determine your credit eligibility.

Bank or Financial Institutes contains the record of borrowers on a periodic basis. On the basis of entire information of the borrower, CIBIL issues a Credit Information Report or CIR (commonly referred to as a credit report) and a credit score. Individuals are required to note that CIBIL is a database of credit information and it does not make any lending decisions. It provides data to banks and other lenders who use it as a quick and efficient resource to filter loan applications. You can know about CIBIL Credit Score and other information with the help of this page, so please move your cursor downwards!!

CIBIL Score

Factors Affect Your CIBIL Score

Individuals must know that CIBIL Score is a numeric summary of credit history which is calculated based on some factors. We are providing some factors that can affect CIBIL Score, so please have a look!!

Positive Factors Negative Factors
  • On time loan EMI payments.
  • Regular payment of credit card bills.
  • Avoiding over-leveraging.
  • Maintaining strong financial records.
  • Too many forms of credit (such as unsecured personal loans)
  • Proper utilization of approved credit limit.
  • Ensuring banks and other financial institutions
  • Requesting and maintaining a copy personally
  • Too many credit report enquiries
  • Cheque bounces/dishonours.
  • Irregular loan repayments.
  • Defaulting on credit card bills
  • Making late payments or consistent part payments.
  • Too much unsecured credit
  • Multiple applications for unsecured loan getting rejected.
  • Defaulting as a guarantor.
  • High utilization of approved credit limit
  • Errors in record by banks and other finance institutions.

CIBIL Score Range

A CIBIL score can range from 300 to 900 with 300 being the bottom end and 900 being the best score possible. Here is what your score could mean.

0 or -1

Individuals having score of 0means they have no credit history created via a credit card or loans.

350 – 550 This score shows that you have been defaulting on payments and the chances of getting new loans/credit cards are negligible.
550 – 650 This CIBIL Score indicates that you pay your payments on regular basis and

Can be trusted with new loans and cards. Your loan applications are also likely to be approved.

650 – 750 This score shows that you are at right path and able to reach the best CIBIL Score too.
750 – 900

It is Good CIBIL Score and shows that you are regular with your payments.

Know About CIBIL Credit Score Online

Individuals can check CIBIL Credit Rating by following below mentioned hassle free steps, so please check it once!!

Step1: First of all log on to the CIBIL’s website and hit on “Know Your Score”.

Step2: Enter the requisite details like name, date of birth, address, id proof, past loan history and other relevant data.

Step3: Afterwards you have to make payment of Rs.470 through any mode such as prepaid cards, credit cards, net banking etc to get the CIBIL Report.

Step4: Then you have to answer 5 questions related to your credit history of which you will have to answer at least 3 questions correctly to authenticate your identity with CIBIL.

Step5: Finally, your report will be sent to your email address within the next 24 hours.

Note: If authentication fails, you can fill and send a hard copy of the application to CIBIL by mail. You will subsequently also receive the report by mail.

Final Words!!

Hope, you are assured from the details of what is CIBIL Score? Know about CIBIL Credit Score, presented on this page and if you still want to know more about it, visit to the Official Link.

You Should Put An Eye On This!!!

Why CIBIL Score Is Important? CIBIL Frequently Asked Questions
Who Issues Credit Rating Or Credit Score? How To Improve CIBIL Score?

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